Stephanie Mann - Feb 23, 2024 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role: Chief Strategy Officer
Signature: /s/ Jonathan A. Greene, By Power of Attorney
Stock symbol: LOB
Transactions as of: Feb 23, 2024
Transactions value $: -$23,148
Form type: 4
Date filed: 2/26/2024, 05:16 PM
Previous filing: Feb 16, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LOB	Voting Common Stock	Options Exercise		+2K	+7.27%		29.5K	Feb 23, 2024	Direct	F1
transaction	LOB	Voting Common Stock	Tax liability	-$23.1K	-589	-2%	$39.30	28.9K	Feb 23, 2024	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LOB	Restricted Stock Units	Options Exercise	$0	-2K	-33.33%	$0.00	4K	Feb 23, 2024	Voting Common Stock	2K		Direct	F1, F2
holding	LOB	Restricted Stock Units						6.67K	Feb 23, 2024	Voting Common Stock	6.67K		Direct	F1, F3
holding	LOB	Restricted Stock Units						174	Feb 23, 2024	Voting Common Stock	174		Direct	F1, F4
holding	LOB	Restricted Stock Units						4.74K	Feb 23, 2024	Voting Common Stock	4.74K		Direct	F1, F5
holding	LOB	Restricted Stock Units						47.8K	Feb 23, 2024	Voting Common Stock	47.8K		Direct	F1, F6
holding	LOB	Restricted Stock Units						11.3K	Feb 23, 2024	Voting Common Stock	11.3K		Direct	F1, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
F2	2,000 of the RSUs will vest on each of February 22, 2023, 2024, 2025, and 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
F3	1,112 of the RSUs will vest on each of February 10, 2023 and 2025; 1,113 of the RSUs vested on February 12, 2024; 2,780 of the RSUs will vest on February 10, 2026; and 2,782 of the RSUs will vest on February 10, 2027, subject to the reporting person's continuous service to the Company or a related entity on such date.
F4	173 of the RSUs vested on February 10, 2023, 174 of the RSUs vested on February 12, 2024 and 174 of the RSUs will vest on on February 10, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
F5	The RSUs vest in five equal annual installments beginning on February 14, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date.
F6	The RSUs vest in five pro rata annual installments beginning on February 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.
F7	The RSUs vest in five pro rata annual installments beginning on February 12, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.